PSE Circular for Brokers No. 1348-98

June 18, 1998 PSE CIRCULAR FOR BROKERS NO. 1348-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b) (3)THEREUNDER 1. Date of Report (Date of earliest event reported): 03 June 1998 2. SEC Identification Number: 17596 3. BIR Tax Identification No. 039-000-910-715 4. Exact name of registrant as specified in its charter: Asiatrust Development Bank, Inc. 5. Province, country or other jurisdiction of incorporation: Metro Manila, Philippines 6. Industry Classification Code: (SEC Use Only) 7. Address of Principal Office: 1424 Quezon Avenue, Quezon City, MM., Postal Code: 1103 8. Registrant's telephone number, including area code: (632) 373-41-01 to 02 9. Former name or former address, if changed since last report: N/A 10. Securities registered pursuant to Section 4 and 8 of the RSA: Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Outstanding Liabilities (as of 31 May 1998) Common Shares 104,013,225/P6,510,513,000 11. Indicate the item numbers reported herein: 1 Item 2. On 03 June 1998, Asiatrust Development Bank (the "Bank") had acquired 24,995 shares of stock of ATB Insurance Agency. Inc. (the "Company") amounting to P24,995.00 at a par value of P1.00 per share. The shares were purchased from Mrs. Gloria M Garcia, who is the present Chairperson of the Board of Directors of the Bank. Asiatrust own's 99.98% of the company. Funds for the acquisition of the shares comes from the unrestricted retained earnings of the Bank. Item 10. Financial Statements and Exhibits As ATB Insurance Agency Inc. is newly mcorporated and has not yet started operations, it has no Financial Statements as yet. SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASIATRUST DEVELOPMENT BANK, INC. Registrant (SGD.) MA. NERIZA C. SAN JUAN Vice President Corporate Legal Counsel